Some of us remember Norway as it was before the oil. We were doing well, but we looked up to our Swedish neighbors. We envied them Volvo, Saab, Scania Vabis and Electrolux. Sweden had a value added per capita was 1.5 times greater than ours.
Today, Norway has value added per capita that is more than 1.5 times larger than Sweden’s.
the story of our 50 years of oil, which we celebrate today, is the story of how Norway has been the country that year after year is chosen as the world’s best to stay in. the history of our forward-looking politicians and officials who negotiated the agreements, wrote the laws, started an oil company and secured a large part of the revenue to the community. It is the story of the oil companies, service companies and suppliers who are constantly pushing the boundaries, and made the impossible possible.
Today , we see the results. On the oil fund is the values corresponding to two average homes for every average family. And we know that there are still values out there, that may call to new properties for each average family. If we want.
But we hear about those who will not. We hear them talking about that we have to find something else: the “new oil”. But what does the “new oil”?
If there should be anything that can replace oil, which can give equal values, why Sweden has not found it? Or Denmark? Or Germany?
Without oil Norway would become like any other country. Probably a good country, but without the same possibilities. An educational service is not as good as if we still have oil. Health services that are not as good as if we have oil. A National Insurance which are not as safe as if we have oil.
It would gradually become another community.
For the unique oil is the most enormous value it creates. In 2014 it was so even though the value added in fishing and farming were fivefold, they would still only accounted for a fifth of the value creation from oil and gas operations.
Of course, we constantly strive to develop new economic activities, which we are to live by in addition to oil. But for me, the “new oil”, a term that represents the future oil and gas business, a business that continues its efforts to develop a responsible industry and finding new solutions to meet future challenges.
For the international community must clear two things simultaneously in the coming decades. We will create energy that can make everyone better life, also the 1.1 billion who currently have no access to energy whatsoever and the 2.5 billion population will increase by up to 2050.
At the same time we cut emissions so we avoid a global warming that will give our planet great harm, we must use energy more efficiently.
even with significantly more efficient use of energy and an increase in renewable energy far beyond what we currently believe may be possible, the world will need large amounts of fossil fuels in the future. Even within the climate targets of Paris estimated that oil and gas will have to cover about a third of the world’s energy in 2050.
Today we see how Norwegian gas plays a central role for the EU to achieve its climate objectives. If the EU were to use coal which they currently use Norwegian gas, would greenhouse gas emissions their increase by a level equivalent to 20 times the oil and gas industry’s total emissions in Norway.
MORE says Norway to limit our oil and gas production to come, not saying the world must emit less greenhouse gases. For the world depends on this energy, and production would be moved to other oil and gas producing countries. What they are saying is that Norway should give up income to countries that simply had taken over our market. Hundreds of billion would rather go to some very rich people in Russia, the US and Saudi Arabia.
Through the oil and gas business supplies Norway energy the world needs. We are also helping to reduce greenhouse gas emissions. For each unit of coal being replaced with natural gas from Norway, get greenhouse gas emissions in half. And we create the revenue that makes it possible for Norway to be the world’s best welfare. Revenues from oil and gas activities constitute one fifth of total government revenue.
Maybe it is why the Norwegian people largely seems to share the industry’s ambition that Norway will continue to be a major producer of oil and gas. In a survey conducted by TNS Gallup said 85 percent of the Norwegian population that it is important to maintain the Norwegian oil and gas production.
Since “Ocean Traveler” put the drill bit into the seabed 50 years ago, the oil and gas industry created a basis for a society that we can proudly call the world’s best.
the “new oil” is the 50 next years with oil and gas in Norway. Where we will continue to create value that benefits the welfare state as a whole. Where we will continue to drive oil and gas industry with the lowest emission. How we continue to be the most important innovation force, creating the new solutions needed to meet future challenges.
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